Thai Beverage - Anticipating Consumption Recovery; Keep BUY
We continue to like Thai Beverage for its strong market leadership in Thailand and Vietnam, and as a beneficiary to Thailand’s economic recovery...
464 Views
Thai Beverage - International Tourist Arrivals Set To Improve
International tourist arrivals to Thailand and Vietnam are set to improve as Chinese tourists return, boosting on-trade alcohol consumption volumes.
316 Views
Thai Beverage - 1HFY23 Results Slightly Above Expectations, Supported By Brown Spirits
Thai Beverage's announced 1HFY23 core PATMI of Bt16.1b (-1.2% y-o-y), slightly above our expectations. The better-than-expected performance was...
200 Views
Thai Beverage 1HFY23 Earnings Preview - Beer Segment Facing Headwinds
Despite higher tourist arrivals to Thailand, we reckon there is downside to our current beer segment estimates. Our estimates for the other...
204 Views
HTC: Soft Drink King Rules in Southern Thailand
We initiate coverage on HTC with a BUY rating and based on a target price of Bt27, derived from 15.7xPE’18E, which represents its two-year average...
221 Views